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November 2024 In This Issue
CLTA NEWS
SACRAMENTO REPORT
INDUSTRY NEWS
Old Republic Title Tech Early Sullivan Wright Gizer & McRae LLP
CLTA NEWS
CLTA’s 118th Annual Convention – Mark Your Calendar
The CLTA is looking forward to welcoming you to the 118th Annual Convention from June 1-3, 2025 at the beautiful Everline Resort & Spa in the majestic Truckee mountains. Be sure to mark your calendar for June 1-3, 2025 for this don't miss event! ...
 
Titlecast Episode 33 - Creative Financing
CLTA is pleased to release its latest Titlecast, Episode 33 – Creative Financing. With today's fast paced financial landscape, traditional funding methods often fall short of addressing consumer needs. In this episode, we will discuss: Adjustable Rate Mortgages (ARMs) and Home Equity Lines of Credit  (HELOCs); Non-institutional Lenders and Hard Money Loans; Debt for Equity and Shared Equity; Insuring Escrow Prepared Financing Documents ...
 
Tax Solutions FIRPTA Consulting
SACRAMENTO REPORT
New Laws Signed by Governor
Governor Newsom signed a number of bills relating to real property into law earlier this year: Up to 8 ADUs on a Single Lot; New Assumption Provision for Mortgage Loans; Increase in Value of Real Property Transferred Outside of Probate; Mortgage Foreclosure Process Clarified; Requirement for Buyer-Broker Agreements ...
 
Governor Newsom Calls Special Session of California Legislature to Prepare for Incoming Trump Admin
Governor Newsom has issued a proclamation calling a special session of the California Legislature to provide additional funding and resources to the California Department of Justice and other state agencies subsequent to the election of Donald Trump as President of the United States. The special session is proclaimed to begin ...
 
Petru Corporation Sinclair Braun Kargher LLP SoftPro
INDUSTRY NEWS
FinCEN Seeks Comments on Form Proposed for Use with Residential Real Estate Rule
FinCEN announced that it is seeking comments on a draft of the reporting form that will be used to report information about certain residential real estate transfers under the Residential Real Estate Rule finalized by FinCEN earlier this year. ...
 
FinCEN Renews Geographic Targeting Orders
Yesterday, the Financial Crimes Enforcement Network (FinCEN) announced the renewal of its Geographic Targeting Orders (GTOs) that require U.S. title insurance companies to identify the natural persons behind shell companies used in non-financed purchases of residential real estate. ...
 
FHA Reports HUD Second Liens are Being Missed
The U.S. Department of Housing and Urban Development (HUD) has several tools to help borrowers avoid foreclosure. One of the resources is through an interest-free second lien—called a partial claim lien—that borrowers can use ...
 
GSEs Issue Revisions to Disbursement Requirements
Freddie Mac on Oct. 17 issued a revision to its updated Multifamily Seller/Servicer Guide changing requirements for the handling of escrow and settlement functions involving mortgage transactions and the acquisition of multifamily properties. ...
 
Tax Assessment Rules for Transfer of Corporate Stock
The State Board of Equalization has sent a Notice of Letters to Assessors regarding the Proportional Ownership Transfer Exclusion: Transfers to/from Legal Entities. The letter is the result of the ...
 
California Attorney General Announces Mortgage Fraud Indictments
California Attorney General Rob Bonta issued a press release announcing the unsealing of a grand jury indictment against the owners of three mortgage brokerage firms and 11 affiliates in a mortgage fraud scheme. ...
 
Mortgage Rates Level Off After Six-Week Climb
Last Thursday Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 6.78 percent. The survey is focused on conventional conforming, fully amortizing home purchase loans for borrowers who put ...
 
Title Insurers Report Third Quarter Earnings
Fidelity Reports Q3 Earnings; First American Reports Third Quarter Results; Old Republic Reports Third-quarter Results; Stewart Reports Third-quarter Results ...
 
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